[2020 National Audit] 3,000 Cases of Unauthorized Fundraising Activities Detected Over 5 Years... "Disrupting Financial Order"

[Asia Economy Reporter Lee Gwan-joo] Crimes involving 'quasi-deposit-taking activities,' which raise funds from unspecified many without financial authorities' approval or registration/reporting, have surged.

According to data submitted by the National Police Agency to Park Jae-ho, a member of the National Assembly's Public Administration and Security Committee from the Democratic Party of Korea, from 2016 to August this year, 3,001 quasi-deposit-taking crimes were detected nationwide, with 10,152 people arrested. Especially last year, there were 711 cases and 2,675 arrests, the highest numbers recorded.

By region, Seoul recorded 1,295 cases with 4,782 arrests. This was followed by Southern Gyeonggi with 357 cases (1,610 arrests), and Busan with 286 cases (956 arrests).

Rep. Park stated, "Quasi-deposit-taking activities are organized frauds targeting unspecified many, causing significant damage," and added, "To eradicate these fraud crimes that destroy sound financial order and to protect the public from harm, stronger punishments and institutional improvements must be established."

This content was produced with the assistance of AI translation services.